Old Second Bancorp (NASDAQ:OSBC) Now Covered by Analysts at Stephens

Analysts at Stephens assumed coverage on shares of Old Second Bancorp (NASDAQ:OSBC) in a report released on Friday. The brokerage set an “overweight” rating and a $23.00 price target on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 18.17% from the company’s previous close.

OSBC has been the subject of a number of other reports. DA Davidson upped their price objective on shares of Old Second Bancorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Old Second Bancorp in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.38.

Old Second Bancorp Stock Down 1.2%

OSBC traded down $0.24 during midday trading on Friday, hitting $19.46. 18,459 shares of the company’s stock traded hands, compared to its average volume of 372,224. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $1.03 billion, a PE ratio of 11.99 and a beta of 0.79. The stock’s fifty day simple moving average is $20.11 and its 200-day simple moving average is $19.20. Old Second Bancorp has a one year low of $14.14 and a one year high of $22.00.

Old Second Bancorp (NASDAQ:OSBC) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Old Second Bancorp had a net margin of 20.00% and a return on equity of 12.79%. The company had revenue of $95.20 million during the quarter, compared to the consensus estimate of $82.49 million. As a group, equities analysts anticipate that Old Second Bancorp will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Richard A. Gartelmann, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $20.98, for a total transaction of $41,960.00. Following the completion of the transaction, the executive vice president owned 24,874 shares of the company’s stock, valued at approximately $521,856.52. The trade was a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darin Patrick Campbell sold 35,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $20.94, for a total value of $732,900.00. Following the sale, the insider owned 274,589 shares of the company’s stock, valued at approximately $5,749,893.66. The trade was a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 37,091 shares of company stock worth $776,744. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Boston Partners acquired a new position in shares of Old Second Bancorp during the fourth quarter worth approximately $15,994,000. Wellington Management Group LLP grew its stake in shares of Old Second Bancorp by 521.2% in the fourth quarter. Wellington Management Group LLP now owns 969,708 shares of the financial services provider’s stock worth $18,909,000 after acquiring an additional 813,600 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Old Second Bancorp by 74.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,478,332 shares of the financial services provider’s stock worth $24,599,000 after acquiring an additional 630,265 shares during the last quarter. Vanguard Group Inc. increased its position in Old Second Bancorp by 20.4% during the third quarter. Vanguard Group Inc. now owns 3,269,993 shares of the financial services provider’s stock worth $56,522,000 after acquiring an additional 553,169 shares during the period. Finally, Kennedy Capital Management LLC increased its position in Old Second Bancorp by 93.3% during the second quarter. Kennedy Capital Management LLC now owns 996,992 shares of the financial services provider’s stock worth $17,687,000 after acquiring an additional 481,302 shares during the period. 67.76% of the stock is owned by institutional investors.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.